There are four loan repayment methods available.
- Transfer. A TFCU loan can be paid off by making a direct transfer from a TFCU account. This payment is instant, free of charge, and can be made in one lump sum or recurringly. The following loans can be paid off: auto loans, personal loans, lines of credit, mortgages (only one-time payment), and credit cards (only one-time payment).
- External transfer. The transfer is made from another financial institution to a TFCU loan. This repayment option is also free of charge, but it takes 1 to 3 days to process. The following loans can be paid off: auto loans, personal loans, line of credit, and credit cards (must perform in the Credit Cards profile).
- Pay online. The payment is made from another financial institution to a TFCU loan. The fee is $2.50 per transaction, and it takes around two days to post to your account. Only a one-time repayment option is possible. The following loans can be paid off: auto loans, personal loans, and lines of credit.
- Pay by phone. The payment is made from another financial institution to a TFCU loan. You would have to make one-time payments with $8 per transaction. It takes around two days to post to your account. The following loans can be paid off: auto loans, personal loans, lines of credit, and credit cards.
The repayment period is determined by the loan type and the client's available financial resources.
Conditions of Loan Extension
Vehicle loans have a payment deferment option for clients with 660 to 850 credit scores. You can start making your payments 90 days after accessing the funds of the loan. Some loans also have a "skip-a-payment" option which you can use up to 6 times. Loan extension or deferment options are not mentioned on the website. However, we recommend contacting TFCU directly to inquire about such options. You can use one of the following phone numbers: (405) 732-0324, option four, or 1-800-456-4828, option 4.
Early Payoff
Early payoff options are not mentioned on the website. However, we recommend contacting TFCU directly to inquire about such options. You can contact one of the following phone numbers: (405) 732-0324, option four, or 1-800-456-4828, option 4. Early or not, we recommend using the Transfer option to repay your loan. It has no additional fees and is the fastest way. Additionally, all the loan types are covered within this option.